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'm melissa lee from the new york stock exchange. let's take a look at how we're setting off on u.s. futures. certainly got a lot of data when it comes to economic data. durables talking of 9.9%. we are seeing a higher open across the board for the s&p, the dow and the nasdaq. taking a look at europe, italy is down by just .10%. a road map develops for what could be a very, very good day in technology. hear what steve ballmer has to say. >>> the mini ipad is out. >>> more trouble at best buy, a major management shakedown. >>> and is cramer going to call this the come back story of the quarter? and could it keep the ceo off the hot seat? >>> we begin today of course with microsoft officially unv l unveiling it's -- the secret staging area microsoft uses to lae out it's retail stores nationwide, we talked to steve ballmer about pcs versus tablets. >> you asked me what's going to happen to the pc market and the tablet market. we can't tell them apart. but with one arrow, we have if you will gotten two birds, tablet and pc, but we don't want to let any of the innovation surface of that not be e
, welcome to skwau"squawk on the street." i'm melissa lee live from the new york stock exchange. u.s. futures coming off a week that saw the s&p 500 down by more than 2%. green arrows looking to add some gains. mixed bag of data, retail seas up 1.1% for september. better than expected but new york manufacturing disappoi disappointing. the picture in europe, digesting a reuters report that says quit asking for a bailout in september. the biggest ones in france, up 1.1%. a road map this morning starts with a massive telecom deal. david brought you the deal and this morning, official, softbank to acquire a 70% stake in sprint. what happens with clear wire surging? does it mean a deal with pck is off the table. >> on earnings and revenues sending citi shares higher. u.s. mortgage business and lending mexico helped boost results. >> microsoft's back in the music business unveiling a service that could compete with the likes of pandora and itunes. we have an exclusive with the head of their interactive entertainment straight ahead. softbank to buy 70% of sprint for $20 billion marking the
demand due to the european crisis and a slow u.s. recovery. data from europe showing industrial output in germany fell .5% in august. lots to digest. the world bank note was interesting. what they pointed out was a lot of chinese cities that had these aggressive and ambitious spending, stimulus plans to rebuild the cities might have trouble running into funding for these projects. >> i think a lot of the data that we see today is catch-up. there's just not a lot of good news out there. the brightest spot in the economy is the united states. i think it was controversial last week. we got an unemployment number suddenly that was a grand conspiracy. i didn't see it that way because perhaps i'm not a black helicopter guy. but i do think that other than the united states, there's not a lot of momentum. and china and europe can pull the world down. you see today the world being pulled down. china is not doing much to help its situation. i think the estimates for china at 7 are wrong. it should be 5.6. >> change in power coming up in china. typically there is inaction on the part of the gover
here. 51.3. this is a new series. it does a good job tracking u.s. pmi figures because they dictate everything from the industrial cycle frankly to earnings estimate. if there's some strength and stability there, that will quell concerns coming into the session this morning. >> let's zero in on facebook for just a moment this morning. a year ago mobile has a percentage of overall ad revenue was 0. it is now 14. citi calls it a nice beat. says they can probably effectively grow revenues during this transition without the key is whether or not they grew on the user experience in the meantime. >> i think that one of -- this call unlike the last one was full of facts. data which indicates advertisers like it. a bold claim. 40% of users are likely to use facebook with desk top but 70% use it on mobile which is why proctor & gamble reports tomorrow. walmart. amazon. capital one with the best bank quarter all like facebook. i wouldn't be surprised if gm didn't want to come back on facebook and maybe they say, hey, nice to meet you. we're going with the other guys. >> there is a concern tho
company. you buy aerospace and autos in the u.s., ford is challenged by europe, gm is challenged by europe but autos are strong. construction up in the air, actual sheet rolled just okay. most importantly, i felt was he gave you hope about china. he didn't just take it away. he's talking about china doing better. trucks are horrible, we knew that from cummins. ebitda not so bad but cash flow not that hot. >> you couple it with cummins, lowering for the year, going to cut 1,500 jobs, going to start cutting work weeks, is this just cyclical slowdown? they say when the cycle inevitably comes back, these cuts will leverage them for better performance. >> the truck population is not young anymore. so i'm not saying, i want to say it is cyclical. people are very much underestimating what's happened in this country, primary truck demand in this country came from trucks to move sand for fracking. we have shut down natural gas drilling in this country. i don't expect it to come back any time soon. the rest of the truck engines are good. china is terrible for trucks. i found it was little surprising
is making such a move. we'll take a look once more at u.s. futures as we head to tuesday on wall street. the higher open across the board looks like much more "squawk on the street" straight ahead. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank yo
. and remember, this is american consumer. something is happening here. someone is buying something, a u.s.-based company, don't want to be so negative. again, i want to be balanced. trying to be balanced. >> okay. we'll talk more after a break. when we come back, workday joining the ipo parade. we'll talk about the cloud company and their potentially sky-high debut. don't go away. we don't call this our company, we call this our mission. green toys teaches children that if i have a milk jug and i stick it in the recycling bin it can turn into something new. chase allows us to buy capital equipment to be able to manufacture in the states to the scale we need to be a global company. with a little luck green toys could be the next great american brand. find what's next for your business at chase.com/mainstreet extra curricular activities help provide a sense of identity and a path to success. joining the soccer team. getting help with math. going to prom. i want to learn to swim. it's hard to feel normal, when you can't do the normal things. to help, sleep train is collecting donations for t
be saying about the u.s. fortunes into q4? >> i still await a negative retail story that i don't have. china -- can china remain bad forever? that's a difficult question to see how long it can remain bad. >> good point. stuff on housing is good. the lead story in "the journal" today, trade slowing. slowing pmis in japan, china, europe -- >> how is this news? what news was there in that story about trade is slow? were they really that devoid of anything new? that's like, d.a. probes rackets. come on! >> meanwhile, busy week for new companies. one of the busiest weeks for ipos since july. and i think september, i just saw these numbers, the best september since '99. eight deals, $5.5 billion, best actual month since may. >> david bust ser coming back. my daughter was able to beat -- there's a claw that comes down -- my daughter got five straight. i'm glad dave & buster is coming back. >> anything worth anything? >> not more than two cents. >> and it costs 50 cents to play? >> i've dropped 50 bucks playing that like. and lifelock, sponsor for trump, you get six banks being hacked. i have a frie
but which one is cheaper right now? europe is cheaper than the u.s. >> for good reason. >> that's the argument. >> talk about no growth. >> housing is still good. regions financial not a good bank but that was an outlier. >> whirlpool reports you are in the midst of a returning spin cycle inside a dryer. this was the first quarter that made me feel, wait a second, you know how you spin around? >> i imagined a fraternity inside a dryer. wonder if they ever tried that. >> whirlpool has been a disappointor f e disappointer for most of the year. >> in the end, let's go back to what carl said. what was that rally yesterday? a rally that felt romney would do a good job. >> we have a situation macro versus bernanke's bid under the market. >> if it weren't earnings report season, it would be terrific. it's like what you were saying before. if the international debate had been first -- >> foreign policy. >> how would that change the outcome? reports do sort of keep with one theme which is split personality between u.s. businesses and u.s. consumer. the real question is can that relations
's below 50, that could -- jpmorgan coming out saying as the focus shifts, the u.s., which has been the stronger player, looks weaker and other parts of the worlds already have weakness priced in. >> honeywell saying we're going to be okay in china. clause klein feld -- yes, i like saying his name. >> it's more rewartding. he's saying this was the last bad quarter. >> you mean for china at large? >> for china. how about the stakes raised tonight, is romney now bad for american companies trying to do business in china? >> this is a point. >> and he had caterpillar ceo saying it's your typical election year bashing. if it's not, cat has a lot bigger things to worry about. >> is this big? >> i assume but talks with afghanistan and benghazi -- we thought this was going to be about the economy all the way to the end. it's taken a hard right turn. >> tonight's the intellectual debate. ge obviously doesn't want anything bad said about china. >> no. >> we heard the same thing from caterpillar ceo, he thinks this is about political rhetoric. last week strategists said which candidate might b
. what is the objective for germans? is this a way of them exiting the u.s. market by basically floating the new business on the stock exchange through a reverse merger? are they going to pay that down? >> i don't cover t-mobile so it's hard for me to comment on them. they've recently completed a deal to sell their towers and they've got cash from the failed at&t deal. it looks like they are really trying to bolster their position from several quarters that they have been losing to subscribers. they are trying to shore up their position in the u.s. >> jim, do you think that the companies are being overly optimistic about their ability to merge the two different network technologies that they have? we saw the nextel merger which could be considered one of the worst, you know, mergers in the books. >> right. >> in this industry. >> it's a little bit of a different -- a little bit of a hard comparison because it was different and the one commonality that you do have is metropcs was one of the first mergers to launch lt. t-mobile is behind there in terms of rolling out lt. i think it will be
but others including china and europe. back to you. >> thanks. u.s. bond markets open for trading. hey, rick, good to see you. >> 49.9. there are several interesting aspects to that. we never talk about rumors. i was getting 49.9 number an hour ago before it was released. it proved to be correct. it is also the first time since august and september of '09 we had back-to-back readings on chicago under 50. our last month was 49.7. this read at 49.9. having said that, if i look at how all of the issues of the east coast have impacted trading, i guess the answer would be not very much. interest rates really haven't been volatile even in the absence of a cash market. futures traded yesterday and other parts of the globe. we're hovering just above 170 on a ten-year. no great shakes there. under 290 for a 30-year bond. many are paying attention to the bank of japan and quantitative easing plus especially some more buying in things like real estate and reits which our fed hasn't done. yet. back to you. >> thank you, rick santelli. much of lower manhattan is without power but the new york stock excha
guy? >> a quick question when it comes to trading of u.s. stocks overseas, does that happen if u.s. markets are closed? >> i don't see why not. i wouldn't think that would stop that. there are u.s. stocks listed on overseas. >> trading down in germany. someone didn't sell something over the weekend. >> my favorite is how everyone talks about it being an illiquid day when we are about to get pounded by liquid. >> we'll get more on hurricane sandy including a live interview with the ceo of expedia. travelers aren't the only ones keeping an eye on the hurricane. the latest on what's at strike for energy, refineries and gas prices. one more look at equity index futures which just closed at this very second. you have made your bets. back in a moment. don't go away. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and t
of maybe not keeping pace with the u.s. >> i remember rick hill who used to be the ceo came on "mad money" and said go outside of the u.s. samsung do what apple is. samsung reports this remarkable quarter. china, tim cook did give that double digit threshold when intel got to one-third china intel took off. you did get the feeling of this, wait a second, if i were in korea right now i would say -- >> hong kong and singapore on the trains, on buses, on streets, you see samsungs and more rarely do you see an apple iphone. samsung results prove it. 18.8% margins. highest level in two years since adopting international accounting standards. they are on a trajectory that's higher but the holiday season may be tepid. >> who is funding the samsung expansion? apple. they use apple's chips. intel said you want to stop giving them business and give it to us. i think about what jobs said about intel which is they are plotting upward even though andy grove was a sometime friend of jobs. >> you mention seasonality at apple. there's a question about the dearth of products once new year hits and it's no
, but we're looking at lower prices. the jobless claims number certainly put pressure on u.s. oil price. and tlar looing at the forecast from goldman sachs regarding brent crude prices for 2013 will be at $110 a barrel down from their earlier forecast of $130 a barrel. some traders skeptical, saying that's where we are at right now. keep in mind that goldman is traditionally the most bullish on the streets, and that has been their stance. they're saying even through 2015, brent crude prices centered between $100 and $110 a barrel because of improving supply from countries outside of opec, that is something this market is paying close attention to. and they're talking about the spread between brent and wti. closer to $20 a barrel from the $24 mark we saw earlier. with the seaway pipeline coming on, we're going to see that spread narrow to $4 in the new year. back to you. >> thanks so much, sharon. time to talk telecom, of course. we'll hit a few different stories. start off with clearwire, a story i've been talking about for some time, at least since we first were reporting on the softba
. sprint of course is the way that a foreign overseas company can gain access to the u.s. >> softbank said they could do a deal as much as $20 billion. this would not be that much but it does beg the question as to why sprint, given how bullish it's been in its own prospects would be willing to cap those prospects. you would have a public equity. don't know how they do it but they do it through a tender offer. i'm trying to get more details on structure here and frankly on the specifics of price. >> sprint preferred's been trading up markedly in the last few days. someone knew about this deal. it is really extraordinary they're doing this. dan hessy, ceo, has said over and over again he doesn't need the money. but who's going to turn down free money? >> are they going to take out public shareholders completely? to get a 75% stake you have to buy out much of the shareholders but i don't know what comes in addition to that. in the japanese media there's ban $1 been a $12.8 billion number out there but i haven't been able to -- simply because people involved don't want to tell me. not sure wh
. first on cnbc is hilda solis, the u.s. labor secretary. madam secretary, always good to have you, happy friday. good morning. >> good morning to you. >> i don't need to tell you that we -- [ inaudible ] we're getting bombarded by people who do not believe the number. they believe this number was fixed and typed to coincide with election day. what do you say to them? >> you know, i'm sorry, but i can't hear you clearly over the applause and the noise in the background. >> that's capitalism at work, isn't it? when a new ipo prices. fleetmatiches is a new issue we're watching and the traders are a little noisy. i'll rephrase the question. a lot of people do not believe the 7.8% and they believe they nexted this to coincide with the election cycle. what is labor's response? >> you know, i'm insulted when i hear that because we have a very professional, civil service organization where you have top, top economists that work at the bls. they've been doing these calculations. these are -- these are our best trained and best-skilled individuals working in the bls, and it's really ludicrous to h
.5% and urging u.s. and european policymakers to deal with their fiscal issues or face a prolonged downturn. the imf is forecasting a contraction that underscores what we do already know and should be expecting out of the region. >> we are taking back one of the two rate hikes they had. there's not a single policy going on here. look what ireland was doing cramming down their banks. but if you can see, david, is there a single pro-growth initiative in europe that you have seen? >> no. >> isn't that incredible? they are still worried about carbon taxes. they have to take the carpet tax up before the carbon tax. >> i gotcha. >> the carpet tax. >> animal crackers? >> no, no. >> duck soup? oh, man, is that terrible. >> part of the imf forecast, jim, bringing the numbers down for the global economy has been austerity does not work. >> it doesn't work. but that's paul crudeman who says it. i pet you paul crudeman believes in the 7.8 number, the big phony number. i bet you crudeman believes in it. how is that the focus of the discourse? i'm trying to make it alcoa. look, the imf is saying the obvi
likely for u.s. markets? david rosenberg and richard bernstein of rich bernstein advisers will be here to lay out their take on the next move for the markets. >> but first, bank of america reporting thrd quarter losses after uk taxes and some accounting adjustments. what we saw here during the quarter was basically a break even on the eps side. that was a slight dip for the bank, but the bank noted that several items contributed to the break even mark and most namely, the $1.6 billion in lit gailg investigation from merrill lynch. premarket investors thought that was a good thing. you're getting some legacy issues out from underneath you and the bank put a cap on what it expects to turn into in the near term. the shares are up a little bit again. they went down about 1% while moynahan was speaking on the call. he said actually they're still facing some housing issues that they expect to be out of the woods on foreclosure by 2014. and that short sale volumes are actually as high as they've ever been. he said foreclosed properties still sell within 60 to 90 days. also, moynahan making so
. the year 1888 was the last time the u.s. stock markets were shut for more than one day due to weather. the nyse and nasdaq are hoping to reopen tomorrow, wednesday. a key trading day because it's the last day of the month when traders prays their portfolios. meantime, new york city mayor is set to hold a news conference on sandy 45 minutes from now. we will go to that conference once the mayor begins his remarks. we'll hear from a number of ceos about how sandy has impacted their businesses. the heads of hartford financial and landry is among the top executives who will be joining us over the last few hours. how equity index futures are trading. will cease trading in 15 minutes time. the dow and nasdaq pointing d n down. as for europe, the action dominated by deutsche bank and bp. we do see green arrows across the board with a 1% gain in germany. >> at least 16 deaths blamed on sandy as the storm continues to wreak havoc on the northeast with new york and new jersey dechaired major disasters. overnight more than 200 patients have been evacuated from two nyu langone hospitals after ba
thing is how much more can they drive their comp from the remodel campaign. it's early in the u.s., will it have that same push that it had in europe. right now it's not showing it's lifting their comps above their peers. >> you're not changing your target, right? we saw on the last weak number it came back below 90 and it had a pretty nice bounce. >> i think it's a good safe haven. even on this slight earnings miss, it still grow earnings 4%, and this was the politic year as well. if i look ahead to 13, you only need 5% more in growth. so in an environment where 2013 is going to look like a double digit earnings grower, i have no no problem putting a historic marker on it. that gets me the $104 price tag, so i think it's on the lower end of fair value. >> we're looking back at of the stock market crash of 25 years ago pl we'll talk to some of the people on the front lines of black monday. and james stewart. that's coming up at 10:40. you talk to some of these guys about what that day was like before wires were really the way we know them now. before you could only watch the tape
and u.s. and as of that week, they have 600 million mobile users. and apparently that's what he emphasized in his exclusive with nbc. >> this is a stock, unlike ms. whitman's stock, where every time someone speaks from facebook, whether it be sherrill, he comes on the "today" show and he gives it a bump. this guy makes a case for anytime anyone's on facebook, they're basically saying listen, forget the past. we've got a mobile strategy which i think august was good for them. i'm getting a feeling that september was good. i think their ability to go out and tell the story ahead of the lockup is a little dicey because you've got this big lockup expiration. >> sure. >> but i do marvel about 1 billion users, and i do think that, you know, i don't want to necessarily buy oxygen because there's, what, 7 billion users of oxygen, but this company does have -- >> interesting that facebook's argument pivots around the number of people who use their product. whitman's argument centers around the number of people who create and work at the company. right? as if a large employee base is a go
regionals like u.s. corp, pnc are all performing better. the shareholders themselves said it. why do you think 55% of the shareholder didn't want him to receive his compensation. why do you think that was the case? >> sheila, you have emerged from this and from your time at the fdic with a political view here. you believe, you said recently in an interview the balance of power have shifted too far in favor of financial interests in washington and you believe workers, homeowners and small businesses have by and large been left to fend for themselves through this process of qe and all this assistance for banks. you have a strong political view here. >> i don't know that it's a political view. i think that's a principled view. i think it's a fact the all view. we shared a lot of money and took a lot of exposure to get these institutions profitable again. and so they made out okay, but no we haven't done much more homeowners, not much more st. paul businesses. income gotten worse. it's a hangover from the bailouts. we didn't down size a sector. we didn't restructure the financial institution
Search Results 0 to 22 of about 23